Daily chart interpretation
EURINR
1. Price action is predicted to be inside red downtrend channel. Yet the resistance line of channel is to be validated.
2. Resistance line of red channel shall be validated only upon price action breaking below the blue support line in correction.
Trade setup:
Time frame: Daily chart
Trade: Sell
Entry: Upon price action breaking the blue support line in correction and closing below it.
Stop loss: Recent high
Target: 77.0 and 75.0
EURINR1. Price action is predicted to be inside red downtrend channel. Yet the resistance line of channel is to be validated.
2. Resistance line of red channel shall be validated only upon price action breaking below the blue support line in correction.
Trade setup:
Time frame: Daily chart
Trade: Sell
Entry: Upon price action breaking the blue support line in correction and closing below it.
Stop loss: Recent high
Target: 77.0 and 75.0
Note
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.